[Funding alert] MemeChat raises $150K as the first Indian startup at 500 Startups Accelerator Programme

Mumbai-based startup MemeChat will use the funding to improve user experience on its app, which allows meme creators to be paid by brands.

Mumbai-based MemeChaton Monday raised $150,000 from early-stage venture fund 500 Startups as part of its accelerator programme. Taking part in the 27th batch, MemeChat became the only Indian startup to join the programme.

Kyle Fernandes, CEO  and Co-Founder of MemeChat said, “Securing the funding from a globally renowned firm like 500 Startups will help us to push the accelerator on our growth plans. For a young company like ours, this global recognition is a huge boost. It will also help us gain more exposure and visibility in the startup ecosystem.”

The startup will use the funding to revamp its platform and make it more user-friendly, and is now eyeing a global user-base. 

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The latest version is an interactive format with new features like saving favourite memes, a section that presents top trending memes of the day, and MemeChat group battle. The latter is designed as a debating platform where users can battle it out by using memes.